Daily brief: Arrogate wins Dubai World Cup, Egypt resumes Brazil meat imports
Four-year old Arrogate, owned by Prince Khalid bin Abdullah Al Saud of Saudi Arabia, won the $10 million (AED36.7m) Dubai World Cup at Meydan Racecourse on Saturday. Here are the top seven business stories you need to know today.
Gulf to consolidate, Saudi reform step supports MSCI hopes
Stock markets in the Gulf look set to consolidate on Sunday with few fresh incentives, although Saudi Arabia may be supported by progress on reforms that could help it join MSCI’s emerging market index.
Market is decisive factor in possible cut extension, Iraq oil minister says
Iraqi Oil Minister Jabar Ali al-Luaibi said on Saturday the market is a decisive factor in deciding whether to extend an agreement by the Organization of the Petroleum Exporting Countries on cutting crude output.
Third plane bought under sanctions deal arrives in Iran
An Airbus A330 airliner arrived in Tehran on Saturday, the third of 200 Western-built passenger aircraft ordered by IranAir following the lifting of sanctions on Iran last year.
Egyptian court suspends jail sentence against journalists
An Egyptian appeals court suspended a jail sentence on Saturday against the former head of the journalists’ union for harbouring colleagues wanted by authorities and for spreading false news, judicial sources and a lawyer said.
Egypt says resumes Brazilian meat imports
Egypt has resumed imports of Brazilian meat, the agriculture ministry said on Saturday, two days after it said it was suspending them until the meat was confirmed safe for consumption.
Arrogate wins 22nd Dubai World Cup
Four-year-old Arrogate, owned by Prince Khalid bin Abdullah Al Saud of Saudi Arabia, won the $10 million (AED36.7m) Dubai World Cup at Meydan Racecourse on Saturday. Arrogate finished the 2000m race, the world’s richest race meeting, after tough competition from American runner-up Gun Runner.
Kuwaiti Fund, Lebanon sign loan deal worth $36.9m
The Kuwait Fund for Arab Economic Development (KFAED) has offered Lebanon a loan worth US$ 36.9 million to provide the country with a steady supply of water used for consumption and irrigation.